How I Spend My Medium Money
When I was a kid many of my elders would implement creative ways of saving coins and small bills. During the months in between his visits, my grandfather would always save the five dollar bills from all of his trips to the store or bank, which then became full clips of cash that he would give to my sister and I as the final cherry on top of his many gifts. His mother, my great grandmother, was also known to say that if you watched your dimes the dollars would always take care of themselves. From both of them, I learned early on the importance of stacking pennies and pounds for a rainy, or a sunny, day.
Making money on the Medium platform follows a similar logic. While some stories you write bring in the dollars, other stories only bring in the cents. But at the end of the month all of these stories are added together and over time, the funds add up. And while you can take your Medium money and spend it on any number of goods and services ( as many other writers have discussed), I have been taking my Medium money to the bank and investing it in different ways.
Specifically, I make two types of investments when it comes to my monthly deposit from the Medium Partnership Program: Personal and Public. Personal investments go towards my own development and growth, while public investments go towards long term financial growth.
So, if you would like to know more about some of the ways that I spend those monthly partner checks, keep reading about how I make dollars out of dimes!
Personal Investments
As an educator and lifelong learner, I love taking part in courses and certification programs. Taking very seriously the statement that Shakespeare wrote King Lear during the Plague, the pandemic has definitely engendered a passion for projects. And while some people have a constant backlog of books, I always have a new learning program or project to complete.
While some of these programs focus on my professional interests and hobbies, I also enjoy taking classes on writing. Whether you are subscribed to Skillshare or you scan the archives of Udemy, there are many classes that you can take online to learn more about how to become a better writer, as well as how to increase engagement with your online content.
Public Investments
In addition to these personal investments, I also like to invest publicly in the stock market and other assets. Most of my public investments are in currencies and technology companies, because I have a vested interest in the future of information and data. Generally, it is useful to make your investments based on the areas of business where you have some insight or knowledge.
Thanks to the rise of financial technology, there are so many applications and websites that you can use to find and invest any amount of money that you would like. If your Medium check is looking a little low, the Penny Stocks are also a great place to start.
Making (and Spending) My Monopoly Money
Because I enjoy playing games, and I find games to be a relevant metaphor in most aspects of life, I tend to explain making different investments as a somewhat safer form of gambling, or my own version of Monopoly or the game of Life. This is primarily because I have noticed that many people tend to have a hard time saving, or investing their money, in a way where they cannot (or should not) try and get it back . . . just in case. Consequently, I like to conceptualize the money that I make on Medium as my Monopoly money.
When you play the game of Monopoly, you might be sad if you lose the game, but it’s generally not too big of a deal because you can always play again and of course the money is not “real” money. In the same way, if my investments don’t turn out how I expect, it’s not a major concern because Medium money is mostly passive income.
Once you write the article they continue to rack up coins in perpetuity (or until Medium changes the Partnership Program). Through tracking my most popular articles, and focusing on a steady increase in engagement and growth, even if I lose some Medium money today, the same amount and more will most likely be back tomorrow.
Therefore, I would highly suggest that if you are wondering what to do with your funds, find some creative ways to invest that Medium money in yourself and your financial future!
